Assumption:
Bad earnings, so I was just looking for an entry intraday.
Play:
Sold off on confirmation of the bear flag.
Outcome:
It didn't really go since it may have been too extended in the morning. Also, I didn't get filled all the way at 19.05 so I added at 18.99ish. Set a stop at my first target and ended up not making very much on the trade.
Lesson:
I should've played the 9ema pullback instead of the bear flag. Could've gotten a much better price, and my stop would've been pretty much the same I think.
Execution detail:
Yeah I agree with you, Mark. I'm still trying out short plays. I'm still at about 20-30% success rate with them
I used to take these too but got burned too often - agree with Mark, too extended. Now I think I will stick with 9ema pullbacks or if it bases for an hour or longer.
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Nice entry although seemed a little extended at that point but if good R:R i'd think you take it. Nice exit.